Is Bitcoin Digital Gold?

For centuries, gold has been a medium of exchange and treated as the most valuable asset all over the world. It has traditionally served multiple purposes like being used as a gift or traded as a commodity asset. The value of yellow metal has risen consistently for many decades now. Bitcoin, on the other hand, has witnessed a meteoric rise, breaching new records and scaling all-time highs. More investors and crypto enthusiasts are now comparing the two to assess the value they bring.Historically, gold has been considered a safe-haven asset. During a financial crisis or recession, the yellow metal has been often used as a hedge against stock market volatility. Bitcoin, meanwhile, has been dubbed “digital gold” in the past and it’s a fair comparison with gold as they share similar characteristics.
The new generation does most of their transactions virtually and dislikes carrying cash. They are more comfortable with online and mobile transactions. While gold is tangible, cryptocurrency isn’t. The tangibility argument doesn’t make much sense to the new generation anyhow.
Bitcoin's exponential growth has given millennials access to a digital asset far more rewarding than gold. Bitcoin even at a code level is guaranteed to be deflationary and as such cannot enter hyper-inflation. Furthermore, the transactions cannot be controlled and restricted by the government. In Asia, 100 per cent of financial advisors, 86 per cent of high-net-worth investors, and 53 per cent of crypto HF/VCs surveyed currently invest in digital assets.

Also, Bitcoin is a flexible asset. One can access it from anywhere as long as they have a computer and an internet connection. Gold, on the other hand, cannot be carried in times of a crisis or sold in small factions. Another important characteristic of Bitcoin is that it is finite, which means that there will only ever be a total of 21 million Bitcoin in circulation.